- quote from resource clips That same month (February 2019) Livent Corp (previously FMC Corp) cancelled an 8,000-tpa lithium carbonate supply agreement that was to start in April 2019.
-******???? Livent canceled it ?*******
- quote from nmx may 2019 report management discussion and analysis may 2019 i) the termination of a supply contract liability with Livent (in 2019 ?)
(previously FMCCorporation) resulted in a non-recurring expense of $10,414,
while in the previous year there was a non-recurring profit on thedisposition
of a mining property for a total of $7,811;
April 3, 2017 Lump sumpayment FMC US$10,000(13,358)
The net proceeds of the financing were used to fund
the general administrative expenses,investing activities
and other working capitalneeds.
ALSO
Pursuant to the Corporation’s off-take arrangements under the JMBM Agreements, the FMC Agreement, the SoftBank ROFOAgreement, the LG Chem Agreement, the Northvolt Agreement and the Stream Agreement, and any future definitive SupplyAgreements entered into, the Corporation is, and will be, required to provide lithium products that meet certain purity andgrade specifications. The inability of the Corporation to fully commission and scale-up its operations at the Phase 1 Plant andthe Shawinigan Electrochemical Plant to produce battery grade lithium would have an adverse effect on the Corporation’sability to meet its obligations under its off-take arrangements which would have a material adverse effect on the Corporation. obviously nmx couldnt meet its obligations
thats why we are restructuring
what is the material adverse effect they are talking about ?
certainly not the sums claimed .
the FMC contract was canceled ,so why are they now claiming ?
nmx the future keystone XL ithium project with no oil spills ,methane leaks or money spills . lol